1/ On April 29th at noon PST, Frax takes the next step in our evolution with the North Star Upgrade ⭐️
With this update, Frax Share will be renamed simply to Frax, become the gas token for Fraxtal, & be the sole commodity token utilized for security in the ecosystem forever.
Frax is excited to welcome @vince_dowdle as our new VP of Strategic Initiatives & Alliances as we build out our institutional relationships & prepare to get our US payment stablecoin charter for frxUSD. Reach out to build the future of finance together! 🤝 https://www.prnewswire.com/news-releases/mastercard--startup-exec-joins-frax-to-spearhead-institutional-strategy-302424857.html
frxUSD combines institutional backing with top DeFi yields for unmatched utility.
Thanks to our partnership with @LayerZero_Core the best of both worlds is now available on many new chains with: ⚡️ near-instant transfers ⚖️ 1:1 rates
1/ BAMM💥 To have a DeFi renaissance, you need DeFi innnovation.
Introducing the Borrow Automated Market Maker (BAMM), a novel DeFi primitive that will change token borrowing & swapping forever. Access leverage for any token, without oracles or permission.
Frax founders @samkazemian & @travismo123 will be attending the Inaugural Crypto Ball to honor the beginning of President @realDonaldTrump's pro-crypto administration.
Frax has always been pro-US innovation from day 1, supporting & donating to numerous US crypto organizations from @standwithcrypto & @coincenter. We're excited to do our part in making the USA the crypto capital of the world! 🇺🇸
FIP #421 is live! The proposal furthers Frax USD's @Superstatefunds partnership allowing redeemability with $USTB (tbills) backing the frxUSD stablecoin creating an institutional-grade fiat on/off ramp for deep utility in real-world apps & payment systems. 🤝
FIP #420 for adding $USCC to the new Frax USD stablecoin is now live for voting by $FXS holders. This strategic partnership allows for @rleshner’s @Superstatefunds RWA entity to mint-redeem frxUSD using their proprietary carry-trade system 🚀